Despite volatile markets IPOs fully subscribed before there closing day

by khalid on 06/10/2011 · 0 comments

The initial public offer’s (IPO’s) of broking company Indo Thai Securities, bulk container manufacturing firm Flexituff International, Aircharter service provider firm Swajas Air Charters and Transformers Manufacturer Company M & B Switchgears were all over subscribed on their final day of issue.

According  to NSE (National Stock Exchange) Indo Thai Securities which came up with its issue on September 30 has been oversubscribed 1.1 times  where as Flexituff International issue opened on 29th September and were 1.14 times oversubscribed. The IPO’s of Swajas Air Charters and M & B Switchgears were subscribed 1.43 times and 1.41 times respectively. Flexituff International’s IPO was worth rupees 100 Crore and it got bids for its 77.1 lakh shares against its offer of 67.5 lakh shares. Indo Thai Securities issue was worth 34 Cr and it received bids for its 43.96 lakh shares against its offer of 40 lakh shares. M & B Switchgears issue was of worth 37 Cr and it received bids for its 70.55 lakh shares against its offer of 50 lakh shares. Swajas Air Charters IPO was of worth rupees 37.5 Cr and it received bids for its 63.62 lakh shares compared to its offer of 44.64 lakh shares.

On the final day of their issue IPOs of IT company Taksheel Solutions & financial services company Onelife Capital Advisors were oversubscribed 2.99 times & 1.53 times respectively which closed yesterday.

“Bell the bull says: Despite of a very volatile market conditions all the issues were fully subscribed. This shows that that good initial share offering are always in demand.”


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